SharkWater Trading  •  Semiconductor Desk • Insider Filing Micron's CEO Settled 235,666 Shares at $989.04 on Oct 13, and Micron Fell 5.6 Percent Friday in a Chip Rout October 17, 2026 Bottom Line Up Front Five Micron (Nasdaq: MU) officers filed Forms 4 on October 15, 2026 for October 13 vesting events, with tax withholding priced at $989.04 a share. CEO Sanjay Mehrotra settled 235,666 performance units and had 166,256 shares withheld for taxes, worth about $164.4 million at the withholding price (desk calc). Only one officer sold on the open market: Chief Legal Officer Michael Ray, who sold 6,328 shares on October 14 at prices from $914.13 to $947.29 under a plan adopted January 30, 2026. On Friday, October 16, AP reported Micron closed down 5.6 percent as the Cboe VIX jumped 21.45 percent to 19.99. The filings are mechanical. The drop is macro. What Was Filed Officer Role Shares withheld (code F) Direct shares after Accession Sanjay Mehrotra CEO, Director 166,256 355,146 (plus 607,075 in GRATs) 0001242654-26-000016 Mark Murphy CFO 50,343 183,308 0001498287-26-000001 Manish Bhatia President, COO 59,088 343,435 0001689498-26-000002 Scott DeBoer President, CTO 42,608 175,975 0001568238-26-000001 Michael Ray SVP, Chief Legal Officer 8,989 (plus 6,328 sold) 56,248 0001593199-26-000004 and -000005 Source: SEC EDGAR Forms 4 filed 2026-10-15, transaction date 2026-10-13 unless noted. Withholding totals are sums of the filed code F rows (desk calc). Code F is shares surrendered to cover taxes on vesting, not an open-market sale. The One Open-Market Seller Date Shares Price per share Basis Oct 13, 2026 n/a $989.04 Withholding price on vesting, all five Forms 4 Oct 14, 2026 6,288 in 27 trades $914.13 to $945.91 weighted averages Ray Form 4 (first of two) Oct 14, 2026 40 $947.29 Ray Form 4 (second of two) Source: Forms 4 0001593199-26-000004 and -000005. Rule 10b5-1 plan adopted January 30, 2026. Total proceeds are not stated in the filings. Desk bounds from the filed prices: roughly $5.8 million to $6.0 million. The sale prices sit about 4.2 to 7.6 percent below $989.04 (desk calc). Why It Matters The vesting is the cleanest piece. Mehrotra's three 2023 performance grants settled for 82,721, 82,721 and 70,224 shares, and 2024 grants were credited as earned at the end of year two but remain subject to vesting. The footnotes tie the payouts to Data Center SSD and HBM3E-plus goals, certified at 233 percent of target on the 2024 award, and to relative shareholder return, certified at 150 percent. I read the payout mechanics from the filing footnotes and did not independently verify the cap language. Withholding is not selling. Four of five officers kept every share the tax bill did not take. Ray is the exception, and his sale was scheduled months ago. The more useful number is the market context. AP reported the S&P 500 down 1.1 percent, the Nasdaq Composite down 2.1 percent, Micron down 5.6 percent and Broadcom down 4.5 percent on Friday, with chip stocks hit by doubts over how long AI spending lasts and by debt-financing fears as the 10-year yield sat at 5.09 percent. Those are press figures, not exchange data. I have not verified an MU price quote. A vesting statement is the ledger at the dock. It tells you what the trip earned, not what the weather is doing outside the harbor. Market context, Oct 16, 2026 Figure Source Cboe VIX 19.99, +3.53 (+21.45%), prior close 16.46 Cboe page, 8:15 PM, time zone unstated, delayed 20+ min S&P 500 -1.1% to 7,659.44 AP via BNN Bloomberg (press) Nasdaq Composite -2.1% to 26,140.03 AP via BNN Bloomberg (press) Micron / Broadcom -5.6% / -4.5% AP via BNN Bloomberg (press) 10-year Treasury yield 5.09% AP via BNN Bloomberg (press) Press figures are labeled as such and were not checked against exchange data. Only the VIX row comes from a primary source. The Bull Case The filings are mechanical. Code F rows are tax withholding. The only open-market sale came from one officer under a plan adopted January 30, 2026. The stake stays large. Mehrotra holds 355,146 shares directly and 607,075 through GRATs, about $951.7 million combined at $989.04 (desk calc, not a current value). Payouts follow business goals. The footnotes tie the 2024 awards to Data Center SSD and HBM3E-plus results, certified at 233 percent of target. The Bear Case The one seller sold below the vesting price. Ray's fills ran 4.2 to 7.6 percent under $989.04 a day later, and the stock fell again Friday. The drop has a macro engine. AP ties the rout to AI-financing worries and a 5.09 percent 10-year. Memory demand rides on customers who borrow to build. Volatility just reset. The VIX jumped from 16.46 to 19.99 in one session. A Monday gap would hit a stock this size hard either way. The SharkWater Take I am not trading these Forms 4. Four of five are tax paperwork and the fifth is a plan sale from January. The signal is Friday's tape, and it is a rates and financing story that happens to hit memory hard. If you own MU, the question is your own stop and your own sizing against a VIX near 20, which your broker's live chain answers better than I can from here. I have no quote, no options data and no catalyst on Micron itself, so I take no side on the stock until Monday's open shows whether Friday was a flush or the start of something. Tight lines, SharkWater Educational and informational purposes only. Not personalized investment advice. All figures sourced as noted and accurate as of publication. The author may hold positions in securities discussed. Do your own work.